The significant increase in the transportation security market is due its advanced security methods. The constant need of public safety, massive infrastructural development and business continuity are some of the major drivers for the growth of this market. A huge number of passengers travel through all modes of transport; therefore, such modes of transport are vulnerable to terrorist attacks, which gives the transportation security technology a further push towards growth. Implementing the security applications in all modes of transportation and its high investment cost are the some challenges in this market.
Transportation Security Technology Analysis by Transportation Modes
Various modes of transportation are roadways, airways, waterways and railways. Security is an important factor in spite of the mode of transportation used. The Railways, amongst all modes of transportation, is expected to grow at a faster pace in next 5 years as compared to airways and waterways.
Transportation Security Technology Analysis by Applications
The global security technology market is segmented based on its applications such as video surveillance, biological & chemical, nuclear & radiological detection, perimeter intrusion detection and access control. Video surveillance is most commonly used application amongst all others.
Transportation Security Technology Analysis by Technology
The various technologies used in the transportation security are Bottled liquids scanner (BLS), Biometrics, Explosive Detection System (EDS), and Explosive Trace Detection (ETD).Biometrics is the popular technology used in various transportation security solutions.
Transportation Security Technology Analysis by Services
Services such as consultancy & system integration services, Risk Assessment and Analysis Services, and Managed services are some of the services provided in transportation security technology market. Consultancy & system integration services are the major contributors of revenue in the transportation security market.
Transportation Security Technology Analysis by Geography
The regions such as Asia-Pacific, Middle East and Africa are expected to be most lucrative market in the coming years. The reasons for these markets to growth are the rise in infrastructural development and the government’s plan to invest more on the security related concerns in these regions. The North America region is expected to have the largest security market share followed by Europe.
The company named Sierra Monitor Corp has developed new monitoring and control instruments to increase its penetration into the transportation security market. Some of the competing companies in this market are Shenzhen Security Electronic Equipment Co. Ltd., Mil-Spec Industries Corp., Modular Connections LLC, Sierra Monitor Corp. and Kejo Limited Co.
High Level Analysis
The report provides an overview of the global transportation security market including the detailed segmentation of the global market. The transportation security market research helps to understand the market leaders, new entrants, competition in market. Porter’s five force model and SWOT analysis helps in providing a wider view of the competitive market and business strategy development. Market dyn
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